Credit: BIL
Banque Internationale à Luxembourg (BIL) has published its new non-financial report, the "2021 Sustainability Report", prepared according to Global Reporting Initiative standards for the first time.
To combine performance at financial, environmental, social and governance levels, BIL, which posted a 34% rise in net income over one year in 2021 (€135 million), designed and launched its sustainable development strategy in 2021. This is built around the development of lasting products and services, employer responsibility and the bank's impact on the economy and communities in which it is present.
"We are a Luxembourgish bank, with an international reach. Since its foundation in 1856, BIL has been contributing to Luxembourg’s development, helping its businesses and residents in their endeavours. We engage with our employees to transition towards sustainable and responsible finance, offering products and services that, together with our clients, enable us to have a positive impact and to prepare solid ground for future generations", said Marcel Leyers, CEO of BIL.
In September 2021, four funds from the BIL Invest Patrimonial range were awarded LuxFLAG ESG certification. These funds combine the opportunities provided by financial markets with environmental, social and governance (ESG) requirements.
BIL group has more than 1,800 members of staff in Luxembourg and over 2,000 when its international subsidiaries are included. 44% are women and 56% men, with 49 nationalities represented. The bank is a signatory to the Lëtzebuerg Diversity Charter, a national undertaking by organisations committed to promoting and managing diversity. Skills development and ongoing training are also central to its efforts: more than 25,720 hours of training were provided in 2021.
Moreover, BIL signed the United Nations Principles for Responsible Banking (UN PRBs) in November 2021. The bank also incorporated its sustainable investment approach into its investment portfolio in 2021. As at 31 December 2021, ESG bonds accounted for 10.5% of its portfolio, i.e. a total of €800 million.
In addition to initiatives linked to its banking operations, BIL has introduced measures to reduce its environmental impact. For many years, the bank has been working to reduce its energy use. BIL also follows the waste management approach established by SDK and has received SuperdrecksKëscht Fir Betriber (SDK) certification.
In 2021, the bank supported sixteen non-profit organisations in education and healthcare through donations and staff volunteering.
